Why Australia Prospered: The Shifting Sources of Economic Growth (Princeton Economic History of the Western World)

McLean, Ian W.

Published by Princeton University Press
ISBN 10: 0691154678 / ISBN 13: 9780691154671
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2012. Hardcover. Offers a comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income. This title argues that Australia's remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. Series: The Princeton Economic History of the Western World. Num Pages: 304 pages, 28 line illus. 2 tables. BIC Classification: 1MBF; KCG; KCZ. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 243 x 172 x 23. Weight in Grams: 564. . . . . . Books ship from the US and Ireland. Bookseller Inventory #

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This book is the first comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia's remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries.


Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia's location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia's modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia's protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country's notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia's recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country's economy since the nineteenth century.


From the Inside Flap:

"Looking at a period spanning two hundred years, this book explores why Australia was so rich at the end of the nineteenth century and why it has remained rich. McLean shows how history sheds light on Australia's long-run economic performance and he cogently discusses the contributions and limitations of formal theory in explaining Australian growth."--George Grantham, professor emeritus, McGill University


"This exceptionally well-written book explains why Australia has been almost continuously prosperous since the first settlement. A truly deep study of the mechanisms of economic growth, it is a top-rate contribution to its field and will become the standard work on Australian economic history."--Eric Jones, professor emeritus, La Trobe University


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Title: Why Australia Prospered: The Shifting ...
Publisher: Princeton University Press
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Book Description Princeton University Press, Princeton, NJ, 2012. Hardcover. Book Condition: New. Dust Jacket Condition: New. First edition. New in new dust jacket. Small review stamp to edge of pages Sewn binding. Cloth over boards. With dust jacket. 281 p. Contains: Line drawings, black & white, Tables, black & white, Maps, Figures. Princeton Economic History of the Western World. Audience: General/trade. Bookseller Inventory # 685312

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Book Description Princeton, 2013. Hardcover. Book Condition: Near Fine. Dust Jacket Condition: Near Fine. Princeton University Press, 2013. Hardcover (16 x 24 cm), xiv, 281 pages. ISBN: 9780691154671. Near Fine condition. "This book is the first comprehensive account of how Australia attained the world's highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia's remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries. Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia's location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia's modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia's protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country's notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia's recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country's economy since the nineteenth century." Weight (before packaging): 565g. Bookseller Inventory # 2477

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Book Description Princeton University Press, United States, 2012. Hardback. Book Condition: New. 236 x 163 mm. Language: English . Brand New Book. This book is the first comprehensive account of how Australia attained the world s highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Why Australia Prospered is a fascinating historical examination of how Australia cultivated and sustained economic growth and success. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia s remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries. Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia s location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia s modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia s protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country s notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia s recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country s economy since the nineteenth century. Bookseller Inventory # AAH9780691154671

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Book Description Princeton University Press, United States, 2012. Hardback. Book Condition: New. 236 x 163 mm. Language: English . Brand New Book. This book is the first comprehensive account of how Australia attained the world s highest living standards within a few decades of European settlement, and how the nation has sustained an enviable level of income to the present. Why Australia Prospered is a fascinating historical examination of how Australia cultivated and sustained economic growth and success. Beginning with the Aboriginal economy at the end of the eighteenth century, Ian McLean argues that Australia s remarkable prosperity across nearly two centuries was reached and maintained by several shifting factors. These included imperial policies, favorable demographic characteristics, natural resource abundance, institutional adaptability and innovation, and growth-enhancing policy responses to major economic shocks, such as war, depression, and resource discoveries. Natural resource abundance in Australia played a prominent role in some periods and faded during others, but overall, and contrary to the conventional view of economists, it was a blessing rather than a curse. McLean shows that Australia s location was not a hindrance when the international economy was centered in the North Atlantic, and became a positive influence following Asia s modernization. Participation in the world trading system, when it flourished, brought significant benefits, and during the interwar period when it did not, Australia s protection of domestic manufacturing did not significantly stall growth. McLean also considers how the country s notorious origins as a convict settlement positively influenced early productivity levels, and how British imperial policies enhanced prosperity during the colonial period. He looks at Australia s recent resource-based prosperity in historical perspective, and reveals striking elements of continuity that have underpinned the evolution of the country s economy since the nineteenth century. Bookseller Inventory # AAH9780691154671

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